Station Casinos confirmed Wednesday that they have acquired about 126 acres of land south of the Las Vegas Strip for $172.4 million.
The confirmation comes just days after Red Rock Resorts, the parent company of Station Casinos, announced that three locals-focused casinos would shutter permanently and be demolished.
The 126 acres, located at the southwest corner of Las Vegas Boulevard and Cactus Avenue, is slated to become the site of a new local casino resort.
A spokesperson released a statement from the company, saying, “we are excited about the potential of this site as a local and regional destination casino resort. The larger acreage parcel allows the company greater flexibility in master planning to take maximum advantage of the future development. We look forward to sharing our plans in the future.”
Station Casinos is also currently building a new property, the Durango Casino and Resort, on a vacant site near the 215 and Durango Drive. It is expected to open in 2023.
Station operates Red Rock Resort, Palace Station, Green Valley Ranch Resort and other hotel-casinos that primarily cater to locals. Its parent company announced that it will demolish Texas Station, Fiesta Rancho and Fiesta Henderson — all of which never reopened following the pandemic-triggered closures — and reposition the land for sale.